The Kirkus Prize is one of the richest literary awards in the world, with a prize of $50,000 bestowed annually to authors of fiction, nonfiction and young readers’ literature. It was created to celebrate the 81 years of discerning, thoughtful criticism Kirkus Reviews has contributed to both the publishing industry and readers at large. Books that earned the Kirkus Star with publication dates between November 1, 2015, and October 31, 2016 (see FAQ for exceptions), are automatically nominated for the 2016 Kirkus Prize, and the winners will be selected on November 3, 2016, by an esteemed panel composed of nationally respected writers and highly regarded booksellers, librarians and Kirkus critics.

KIRKUS REVIEW

Krugman (Economics/Princeton Univ.; The Return of Depression Economics and the Crisis of 2008, 2008, etc.) delivers an urgent message on ending the economic crisis.

Despite apparent financial stabilization and indications of improvement, writes the Nobel laureate, the conditions of peoples' lives have not changed. “You can't have prosperity without a functioning financial system,” he writes, “but stabilizing the financial system doesn't necessarily yield prosperity.” The country needs strong leadership to build support for stimulus policies—e.g., large-scale job creation, debt relief and the reversal of current austerities—on a more expansive scale, rather than just accepting compromises. The author takes issue with three main objections: that government spending programs don't work, that increasing deficits undermine business confidence and that there aren't enough quality projects in which to invest. Given that the private sector is not investing enough to provide the needed increase in demand, government spending must be a significant part of the solution. Krugman also examines how the economic profession has lost its way over the last 30 years. For him, the current problems were effectively addressed during the 1930s by Keynes and others; the author doesn’t have much patience with opponents or critics, considering them as representing political or ideological, not economic, views. He references ongoing research by a new generation of economists into how government intervention worked to end depressions in the past.

An important contribution to the current study of economics and a reason for hope that effective solutions will be implemented again.

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